Updated: Jul 22
Business Model Canvas (BMC) is a strategic management tool to quickly and easily define and communicate a business concept.
It is a one-page document that works through the fundamental elements of a business or product, coherently structuring an idea.
The right side of the canvas focuses on the customer (external), but the left side of the canvas focuses on the business (internal).
Both factors meet around the value proposition, which is the exchange of value between you (your business) and your clients.
Why We use it?
To quickly draw a map of what the idea is.
Because allows us to get an understanding of your business and to go through the process of making connections between what your idea is and how to make it into a business.
It looks at what sorts of customer decisions affect the use of your systems.
It allows everyone to get a clear view of what the business will likely be.
How should we use it?
The first time you engage with the canvas, we recommend printing it out or projecting it on a whiteboard. Fill out the parts for your business and then ask yourself ‘Does this make sense?’ ‘What are the most significant linkages and components of the model?’
If you’re able to put together something a little more formal (for distribution, presentation, etc.) there’s a Google Apps template you can copy or download.
In the next article, we are going to talk about canvas Segments.
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